Risk
Co-operators General Insurance Co. has sold around half of its stakeholding in wholly-owned specialty auto risk insurer Echelon General Insurance Co. to a group of former senior executives of Pafco Insurance Co. who left the company after it was taken over by Allstate Insurance Co. of Canada in 1998. The exact shareholding acquired in Echelon […]
March 31, 2001
1 min read
Industry
The new federal privacy legislation, while not affecting the insurance industry until 2004, needs to be addressed now, representatives of the Insurance Information Centre of Canada (IICC) and the Insurance Bureau of Canada (IBC) told guests at a “Privacy and Security” breakfast, held recently in Toronto. Chief among the concerns in the new legislation is […]
It was a packed house recently for the Toronto Insurance Women’s Association (TIWA) Wine & Cheese Party, held at the Metro Toronto Convention Centre. About 2,000 attendees were present for the event, which is a chance to renew acquaintances, sample wine and vie for several door prizes. And it was all thanks to the efforts […]
After 34 years with Lindsey Morden, CEO Kenneth Polley has announced his intention to retire from that position. Polley will remain as chairman, while Francis Chou, a director of the corporation and vice president of Fairfax Financial Holdings will act as interim CEO. Queensway Financial Holdings Limited has announced the resignation of director Keith Henry. […]
2 min read
The Risk and Insurance Management Society (RIMS) welcomes the world to Atlanta, Georgia this year. For incoming president David Mair, the annual conference will be a time to celebrate new efforts to increase RIMS' international flavor. As the world of business becomes "borderless", the profession is challenged to expand its own boundaries. And lest Canadian members think they will be swallowed up in a larger, more global society, Mair says an increased focus on what makes the Great White North special is taking shape at RIMS.
6 min read
In a relatively short period in the historical record of mankind's social development and exploration, technology advancements over recent decades have thrust us beyond what anyone three generations past could possibly have envisaged. But, with the rewards of advancement also comes risk, and similar to the charting of hidden reefs by early sea trade merchants, modern-day businesses need to identify and defend against their online technology risks - both tangible and non-tangible property.
Claims
Trends emerging in claims handling suggest that adjusters will be busy in the year ahead, delegates at the recently held Ontario Insurance Adjusters Association conference were told. Fraud and litigation were central topics, with speakers predicting new perils in bad faith and class action lawsuits.
3 min read
Commercial
In the February 2001 issue of CU, Employers Re was incorrectly identified as being among the companies involved in a class action lawsuit against Hydro Quebec. Employers Re is not among the plaintiffs in the case. CU apologizes for the error and any confusion it may have caused.
Queensway Financial Holdings Ltd. (TSE: QFH) has entered into an agreement to sell its U.S. subsidiaries North Pointe Financial Services Inc. and Hermitage Insurance Co. to the Argonaut Group Inc. for US$36.5 million. The troubled specialty insurer, which operates in both Canada and the U.S., is also considering the disposal of its remaining U.S. interests […]
Another U.S.-based property and casualty insurer has decided to pack bags and depart the lackluster Canadian personal lines market. Kemper Canada was recently acquired by the Royal & SunAlliance Co. of Canada for an undisclosed amount. The change in ownership is not expected to result in any significant staff changes, both companies say in a […]
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